THE Governance Commission for Government-Owned or -Controlled Corporations (GCG) said it released a new salary framework for employees of state-run firms to provide them cost-of-living relief.
The revised Compensation and Position Classification System (CPCS II), approved by President Ferdinand R. Marcos, Jr., introduces enhanced salaries and expanded benefits, it said.
“The CPCS II contains a new salary framework for the GOCC workforce, designed to mitigate the erosion in purchasing power due to inflation and other economic factors,” the GCG said in a statement over the weekend.
The new system expands the previous 20 Job Grades under Executive Order No. 150, series of 2021, to 30 Pay Grades. It also reclassifies positions previously grouped under a single grade, following recommendations by an external consultant.
The GCG said GOCC employees will receive annual medical allowances under a tiered system, depending on the financial capacity of their agency.
Employees of Category 1 GOCCs, which rely on National Government subsidies, will receive P7,000.
Categories 2 and 3, self-sustaining GOCCs funded through non-commercial and commercial activities, respectively, will receive allowances ranging from P10,000 to P35,000 across five tiers.
It starts with P10,000 for Tier 1, P15,000 for Tier 2, P20,000 for Tier 3, P27,000 for Tier 4, P35,000 for Tier 5.
“Guidelines covering the grant of the medical allowance will be issued by the GCG En Banc,” the GCG said.
The regulator said the GCG En Banc will refer to the implementing guidelines for the CPCS II to help GOCCs in the transition to the new salary framework. The GCG will also issue Authorities to Implement the CPCS II.
“With the issuance of the CPCS II, the GCG reaffirms its role as a partner and not merely a regulator of the GOCC sector,” it said.
“The GCG is steadfast in its commitment to provide effective regulatory mechanisms to help sustain the efficiency of operations of GOCCs under its jurisdiction, and to set sustainable policies and systems that will continue to attract talent and retain quality workforce in the GOCC sector.”
Last week, Finance Secretary Ralph G. Recto said state-run firms are expected to generate P157 billion in remittances this year, up 14.60%.
As of Sept. 3, Mr. Recto said 53 GOCCs transferred P116.84 billion to the Bureau of the Treasury, with 15 remitting at least P1 billion each. — Aubrey Rose A. Inosante